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cjc7
October 7, 2022
Question

Payments from customers

  • October 7, 2022
  • 1 reply
  • 0 views

Hi. I just started using invoicing in QBO and I am unsure how to process incoming payments from my customers. I have QBO configured to receive automatic transaction downloads from my bank. Incoming customer payments arrive in my bank account in two forms, sometimes as unbatched transactions (single payment from a single customer) and other times as a batched transaction (multiple customer payments in a single deposit) from a third-party payment vendor. Where I am confused is whether I should 1) ‘receive’ the payment using the ‘receive payments’ feature; or 2) categorize the payments when they appear as a bank transaction. And if I only use the ‘receive payments’ method, what do I do about the open transaction in my bank transaction feed? Thanks in advance for your help.

1 reply

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SirielJeaB
October 7, 2022

Hi, cjc7! I'm here to help you process the incoming payments from your customers.

 

For the unbatched transactions (single payment from a single customer), you can use the Receive Payment feature. Once the downloaded transaction appears in QBO, you can match it with the single payment.

 

For the multiple customer payments in a single deposit, you can still use the Receive Payment feature. However, you need to deposit the payments to Undeposited Funds. Once done, you can match it with the open transaction in the bank feed.

 

I added these steps on how to match downloaded transactions to the existing ones in QuickBooks Online:

  1. Go to Banking or Transactions menu and select Banking.
  2. Select the transaction, then click Find Match.
  3. Use the filters to find the matching transactions, then select it.
  4. Click Save.

 

Here are the articles you can follow to learn more on what to do with the downloaded transactions: 

 

For further assistance about your payment transactions, feel free to reach us again. We're always here to help you!

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